State Government Decides to Waive Agricultural Loans Up to 2 Lakh Rupees for Over 1.91 Lakh Farmers

The state government has announced a major relief initiative by deciding to waive agricultural loans up to 2 lakh rupees for more than 1.91 lakh farmers in Jharkhand.

Government Provides Relief to Over 1.91 Lakh Farmers

The Agriculture Minister of Jharkhand stated that this decision is part of the government's ongoing efforts to support the farming community. During a meeting with officials from the State Level Bankers' Committee in Ranchi, the Agriculture Minister requested banks to present proposals regarding this loan waiver.

Loans Up to 2 Lakh Rupees to Be Waived

The minister explained that loans ranging from 50,000 rupees to 2 lakh rupees taken by farmers up until March 31, 2020, will be waived off in a single settlement. He also highlighted that in the fiscal year 2021-22, the state government had announced the waiver of crop loans up to 50,000 rupees. The state government has been committed to its promise by providing relief to farmers troubled by bank loans.

To date, the Jharkhand government has already waived loans up to 50,000 rupees for more than 4.73 lakh farmers, disbursing over 1,900 crore rupees to the banks. The minister urged bank officials to send proposals to the state government to close accounts that have become non-performing assets, thus enabling farmers to be debt-free.